Yesterday Bloomberg reported that the US Securities and Exchange Commission (SEC) is probing some non-fungible token (NFT) issuances to see whether they are securities offerings, citing un-named sources. It has sent out subpoenas to some issuers.
It’s thought the SEC’s primary interest is fractional NFTs, which might be considered similar to issuances of securities. In other words an NFT represents only partial ownership of an object.
Commissioner Hester Peirce, the crypto-friendly SEC Commissioner nick-named CryptoMom, has previously spoken about the topic. She noted that plain vanilla NFT collectibles that don’t have revenue potential are unlikely to fall foul of regulations.
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